The Canadian dollar strengthened to a nearly one-week high against its U.S. counterpart on Monday as the greenback broadly fell and investors braced for a potential interest rate increase by the Bank of Canada this week.
The Canadian Dollar rose sharply in 2017 when the Bank of Canada surprised markets by embarking on a programme of interest rate rises, and on Wednesday, January 16 the third installment in the series should be delivered.
The reason: Canadian officials said Wednesday it's increasingly likely that U.S. President Donald Trump plans to dump the trillion-dollar trade pact. The White House was quick to deny it. And Thursday, Canada said it's preparing new talks related to ...
The Canadian dollar weakened slightly against a stronger U.S. counterpart on Monday, pulling back from Friday's three-month high even as optimism in a business survey supported bets that the Bank of Canada would raise interest rates next week.
The Canadian dollar was little changed against the greenback on Friday as data showed bullish bets on the currency have been slashed, but the loonie posted a two-month high earlier in the session and scored its biggest yearly advance since 2009.